ceo speech with slides
TRANSCRIPT
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GRIFFIN UNIVERSITY: COM12 BUSINESS COMMUNICATIONS
11
ASSESSMENT ITEM TWOANNOUNCING THE TAKEOVER OF BLUE TORCH
ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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DISCLAIMER
Lachlan James Ross (LJR) Media Inc. is a fictional worldwide entertainment and content
provider. With over 6000 employees and offices located throughout the world, LJR have
become the worlds leading and most trusted source of media and entertainment content.
All names, facts and figures that are mentioned in this presentation are entirely fictional and
created solely for the purpose of this assessment.
-Lachlan Ross
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LJR MEDIA INC.
67 SAFFRON ST, GEELONG, VICTORIA 3220
News Release Contact Information
FOR IMMEDIATE RELEASE
February 4, 2011 Michael Harris, Communications Director
Office:Ph. (03) 52788214
Email:[email protected]
LJR MEDIA INC. CEO TO MAKE SPECIAL PRESENTATION AND MAJOR
ANNOUNCEMENT REGARDING THE FUTURE OPERATIONS OF LJR MEDIA INC.
LJR Media Inc. is one of the worlds largest and faster growing companies, specialising in
providing the highest quality content of entertainment from movies, television, print and
radio. This news release is to invite any interested media to attend LJR CEO, Lachlan James
Ross in announcing LJRs new acquisition of Blue Torch Entertainment.
The press conference is to be held at 12 noon on February 7 at LJR Media Inc. Main Office
press room, 67 Saffron St in Newtown, Geelong. CEO Lachlan Ross had this to say in the
build up to the official announcement, These are exciting times for all investors involved in
LJR and with this announcement our customers are going to be opened up to a whole new
range of services that we can now offer now offer them. This announcement will delight all
of our valued investors and strengthen our positioning within the entertainment industry.
The presentation will also include a free lunch and drinks as a way to thank all the media for
their continued support over the last 12 months and as a celebration of what the future
holds.
For more information, please contact Michael Harris at (03)52788214 or email
mailto:[email protected]:[email protected]:[email protected]:[email protected] -
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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PRESENTATION BY CEOLACHLAN JAMES ROSSANNOUNCING THE TAKEOVER AND ACQUSITIONOF BLUE TORCHENTERTAINMENT
Thank You and good afternoon everyone.
I hope you are all enjoying the free lunch that was provided today.
My name, in case you dont know is Lachlan Ross.
Im the CEO and founder of LJR Media Inc.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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WORLDS LEADING ENTERTAINMENT AND CONTENT PROVIDER.
FOUNDED IN 1984.
EMPLOYEES OVER 6000 STAFF.
OFFICES LOCATED IN 10 COUNTRIES.
PUBLICLY LISTED IN 1990
CEO IS FOUNDER LACHLAN J ROSS
Its great to be here this afternoon I havent had the opportunity to address a
room full of reporters since, well Friday. I was having withdrawals.
Ok, so is everyone seated?
Lets begin then shall we.
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ASSESSMENT ITEM TWO
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In 2010 we entered the year facing strong economic headwinds and great
uncertainty about the health of our markets.
We were at a crossroads.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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SIMPLIFY MANAGEMENT STRUCTURE
CLARIFY INDIVIDUAL ROLES
GOAL TO STREGHTEN OPERATIONS
ADJUST TO THE NEW WORLD OF DIGITALISATION
INCREASE REVENUE AND ASSESTS
I and everyone who is part of the LJR Media Inc. Team focused our efforts over
the duration of the past 12 months with a goal to strengthen our operations.
As a result we have emerged with our business improving more than the
markets themselves.
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The executive board had been talking about how to best simplify our
management structure and speed up decision making for a long time.
By clarifying our individual roles, we created clearer responsibility and
accountability from the very top of the company.
http://www.flickr.com/photos/jeremiah_owyang/4523159778/http://www.flickr.com/photos/jeremiah_owyang/4522505593/ -
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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Our impressive results were widely distributed across most of our business
segments and from varied sources around the world.
REVIEW OF SEGMENT OPERATING RESULTS
Total Segment Operating Income 3 Months Ended 6 Months Ended
December 31, December 31,
2010 2009 2010 2009US $ Millions
Cable Network Programming $ 735 $ 604 $ 1,394 $ 1,117
Filmed Entertainment 189 324 469 715
Television 151 29 256 67
Direct Broadcast Satellite Television (12) (30) 70 98
Publishing 380 (90)* 558 28*
Other (156) (125) (312) (251)
Total Segment Operating Income $ 1,287 $ 712 * $ 2,435 $ 1,774
They are testament to the clear vision our senior management has maintained
in the face of broad economic challenges, as well as to the dedication of our
more than 6000 innovative colleagues.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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The past 12 months results also underscore how well positioned we are:
Fiscally Operationally and Strategically for further growth across all markets.
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ASSESSMENT ITEM TWO
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Ok now,
It is with great pleasure as I stand before you today on behalf of everyone at
LJR Media Inc. to announce the companys acquisition of Blue Torch
Entertainment.
I will be more than happy to answer any questions that you may have once I
have concluded this presentation.
Before that though, Id like to talk about the process and reasons behind the
acquisition.
Why LJR Media Inc. thought it was a smart decision, and finally...
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ASSESSMENT ITEM TWO
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How do we think this announcement will benefit the future of LJR Media Inc
MEDIA AND ENTERTAINMENT INDUSRTY IS IN THE MIDST OF
TRANSFORMATION.
INTERNET HAS CHANGED CUSTOMER REQUIRMENTS
NEW PLATFORMS AND NEW WAYS TO COMMUNICATE & SHARE
CONTENT HAVE BEEN CREATED
We all know that the media and entertainment industry is in the midst of
transformation.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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We are entering a period of digitalisation which defies all limits and crosses all
borders, in which everything works with everything else, everywhere, all the
time.
The internet is driving a fundamental change in customer requirements.
We have come to realize that great content and service is no longer going to beenough.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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Customers are looking for new solutions to new challenges presented by a
transformed technological world.
It's a world where solutions matter most.
Where size makes a difference.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
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Where success will depend upon our ability to align ourselves to function.
In a seamless way to answer our customers' every technology need from all
forms of media driven content.
Each day new platforms and new ways of communicating and sharing content
challenge us to evolve our business.
These disruptions though have provided us with long term opportunities.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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Across the company, we have been using rapid advancements in technology to
our advantage.
Its the consistency of LJRs core strategy, and clarity to our operations that
resonate with me as I stand before you making this special announcement
today.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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FURTHER ENHANCE CAPABILITIES AND GROWTH TRAJECTORY
GOAL TO BUILD THE NEXT GENERATION PLATFORM FOR SERVING MEDIA WORLDWIDE
ADVANCE MARKET POSITION
REDUCE COSTS OF SUSTAINABILITY
EXTENDS SERVICES AND TECHNOLOGIES AT LJR
In the final half of 2010 we made an attractive all cash offer of 700pence per
share to acquire the 61% of Blue Torch Entertainment that LJR Media Inc.
didnt already own.
LJR payed Blue Torch Entertainment a breakup fee of approximately $60
million after we obtained regulatory approvals.
The transaction was financed by using a significant portion of the available
cash on our balance sheet plus borrowed funds.
The number of LJR shares issued in the transaction was determined based on
the 30 day average closing price two trading days prior to the completion of
the acquisition.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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APPROVAL OF TRANSACTION COMPLETE
CLOSE OF TRANSACTION EXPECTED 1ST QAUTER OF 2011
TRANFORMATION INTO THE DIGITAL ERA
IS A CORE BUSINESS OF LJR MEDIA INC
WILL IMPROVE CUSTOMER EXPERIENCE OF OUR SERVICES
Both companies have approved the transaction, which is subject to customary
closing conditions and is expected to close in the first quarter of 2011.
I believe this transaction will result in increased geographic diversification of
the companys earnings base and reduce its exposure to cyclical advertising
revenues through an increase in direct consumer.
It affirms a successful transformation into the digital era of 2011 and positions
LJR for the future and greatly benefits our investors.
Its also a core business in which we have an extensive expertise.
Our companies share similar values.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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When deciding to acquire Blue Torch Entertainment, we saw an opportunity to
partner with a great management team to further enhance the companys
capabilities and growth trajectory.
Im confident that with this takeover well have the flexibility and resources
needed to pursue our goal of building the next generation platform for serving
media worldwide.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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It is a rare opportunity when an entertainment company can advance its
market position substantially and reduce its cost structure substantially at the
same time.
This is possible because Blue Torch Entertainment and LJR Media Inc. are in the
same businesses, pursuing the same strategies, in the same markets, with
complementary capabilities.
With LJRs global reach, scale and widely recognised leadership, we are
confident that our existing customers will continue to be fully supported while
we continue to enhance and extend our services and technology at LJR.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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I firmly believe our era is one of innovation.
That is, a digital renaissance that is bringing us closer to a global meritocracy
than at any time in human history.
Innovation only accelerates as human freedom advances and human beings
have more chances to interact.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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ERA OF INNOVATION IS ASYMMETRIC
INNOVATION ACCELERATES AS HUMAN FREEDOM ADVANCES
MORE INTERACTION WITH CUSTOMERS
THE INTERNET CHANGES EVERYTHING AND EFFECTS BUSSINESS.
The era of innovation is asymmetric:
The winners will be rewarded handsomely and the laggards will be left
languishing far behind.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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REAL TIME IS NOT FAST ENOUGH
Everyone understands that we live in a world of technological change.
Companies that do not innovate will struggle to survive.
They will be digitally disorientated.
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ASSESSMENT ITEM TWO
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Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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Quickly losing touch with their customers, and who will be more
technologically literate than those who seek to provide them with services and
products.
It's true: the Internet changes everything.
Think of all the things you can do from your home, your car, your office, the
airport that you could never do before.
Things like:
Instant communication over networks Content moving over networks Whole processes being transformed by networks and networks
supported by open architectures
All of which are driving a digitalised technological transformation that is much
more radical and much more rapid than ever before.
The dot-com bubble may have burst, but the effect of the Internet on business
and daily life is immutable.
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ASSESSMENT ITEM TWO
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Our strong performances over the last 12 months have been driven by a
rapidly growing digital economy.
Continuous product innovation that benefits a wider range of customers and
by the extraordinary momentum of our newer business frameworks since
being implemented.
These results give us the optimism and confidence to invest heavily in future
growth.
Investments that will benefit our customers, the team at LJR and the wider
community.
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ASSESSMENT ITEM TWO
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MOST HAVE BEEN TAKEOVERS OF DIVERSIFICATION....NOT
CONSOLIDATION
SOLD AT HIGH PRICES IN HOT MARKETS = HIGH REVENUE
SYNERGIES TO COVER BET.
NO DETAILED PRE & POST CLOSE INTEGRATION PROGRAMS
Many entertainment and media takeovers have failed.
Most have been takeovers of diversification, not consolidation.
Many have been market laggards coming together.
Most have been done in hot markets at hot prices - requiring lots of revenue
synergies to cover the bet.
Many had no detailed pre- or post-close integration programs.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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CREATES MARKET LEADERSHIP
UPSIDE POTENTIAL OF COST SYNERGIES & REVENUE
MUST HAVE A GOAL OF BRINGING THE TWO COMPANIES TOGETHER AS A FAMILY
MEETS CRITERIA FOR SMOOTH AND EFFECTIVE INTEGRATION
TIMING
This is a takeover of like businesses coming together - a takeovers of
consolidation, not diversification.
LJR and Blue Torch Entertainment are in the same businesses, we understand
each other, and we speak the same language.
This is a takeover that creates market leadership.
This is a takeover that we expect to be substantially accretive even with
revenue losses baked in.
This is a takeover with lots of upside potential in both cost synergies and
revenue.
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ASSESSMENT ITEM TWO
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This industry is beginning to consolidate.
Current industry dynamics are much more akin to the mature phases of other
industries - where takeovers are not only workable, but a strategic imperative.
Industries like:
Pharmaceuticals Oil and Gas Financial Services Telecom and Aerospace
In fact, there are some common threads that run through successful mergers.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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Takeovers have succeeded:
When the combination is about bringing like businesses together, notmaking forays into new businesses
When the combination helps to achieve clear market leadership
When the deal is stock only, providing a strong post-merger balancesheet
When the combination results in significant cost savings, and
When the combination meets the criteria for smooth and effectiveintegration
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Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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The timing of this deal is also important.
We're doing this takeover at the near bottom of a market cycle, not the top,
which means:
Valuations are fair Customers aren't making major investments Our competitors are in a holding pattern or dealing with business-model
challenges of their own as they adjust to lower overall industry growth
rates.
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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And perhaps most importantly, our employee base is stable. Attrition at LJR
and Blue Torch are at all-time lows.
INCLUSION OF DEFINING GOVERNACE FOR NEW COMPANY
FOCUS TO REMAIN ALWAYS ON CUSTOMERS
DEVELOPMENT OF CLEAR PRODUCT ROADMAPS
TO CAPTURE COST SAVINGS IDENTIFIED
HAVE CONSTANT COMMUNICATION WITH EMPLOYEES & STAKEHOLDERS
We are addressing the critical factors for successful takeover execution:
Including defining governance for the new company Ensuring an unyielding focus on customers throughout the pre- and
post-close integration process
Developing clear product roadmaps
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ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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Preparing ourselves for Day One across every level of the companydeveloping rigorous plans for capturing the cost-savings we have
identified
Staying in constant communication with employees and stakeholders
Interestingly, the adversity we've faced has brought the two organizations
even closer together and created an even more unified and committed team.
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ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194
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Proof that a kite rises against the wind, not with it.
We have now entered the third and final phase of our integration planning.
We are at the point where detailed business plans are being drawn up for the
new company.
We are over-achieving on both our cost reduction and revenue targets.
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ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
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We have completed all our product line road maps.
We've built our go-to-market plans.
Our web sites will be integrated on day one.
Our customer service reps will know what to say when they pick up the phone.
All our employees will get a pay check that says LJR.
These are just some examples of the nitty-gritty work that must be done, and
is being done to assure we hit the ground running and can meet or exceed the
expectations of our employees, our customers and our shareowners.
All the hard work of reinvention over the past year has been preparation for
this.
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SECURING THE FUTURE FOR LJR MEDIA INC.
CAREFUL PLANNING FOR PAST 12 MONTHS
WE ASKED OURSELVES THE HARD QUESTIONS.
AQCUISITION CREATES SHAREHOLDER VALUE.
This takeover isn't just my judgment of how best to secure this company's
future.
This represents the collective judgment of a talented team of people who havespent the last year preparing for this transaction.
These are people who attended the meetings where we asked the hard
questions:
Will taking over Blue Torch Entertainment create shareowner value?
And can we get it done?
These same people have looked at the alternatives.
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They unanimously came to an answer: Acquire Blue Torch Entertainment.
LEAD FROM THE FONTNOT FOLLOW FROMBEHIND
COMMUNICATION IS KEY TO SUCCESS
BOUNDLESS OPPURTUNITIES TO INCREASE
MARKET SHARE
OUR LEGACY IS WORTH PRESERVING.
Im confident that we have turned the corner on this acquisition.
The momentum is shifting.
The more that people look at this deal, the more they conclude that this is not
simply a choice between acquiring and not acquiring.
This is a choice between taking the hill and charging ahead or retreating and
starting over.
This is a choice between embracing the revolution that is changing our industry
or attempting in vain to preserve the status quo.
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This is a choice between leading and following.
We work hard and will continue to do so when communicating our values as a
company.
I remain excited about the future and see boundless opportunities to play to
our inherent strength as the worlds leading entertainment and content
provider.
Ours is a legacy of invention and values that are worth preserving.
Sustaining our company requires moving forward with courage and
determination.
And that is exactly what we intend to do.
-Thank You
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WWW.LJRMEDIAINC.COM
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Brian Atkin, Adrian Brooks. Total Facilities Management. Oxford: Blackwell Publishing Ltd, 2000.
Hartley, John. Communication, Cultural & Media Studies. New York: Routledge, 2002.
Steve Barrile, Terry Cameron. Business Managemen: Corporate, Human Resource & Operrations
Management 5th Edition. South Yarra: VCTA Publishing, 2002.
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7/31/2019 CEO Speech With Slides
41/41
ASSESSMENT ITEM TWO
ANNOUNCING THE TAKEOVER OF BLUE TORCH ENTERTAINMENT BY LJR MEDIA INC.
Lachlan Ross: USER ID-S2790712; OUA ID - 336194